406 S Wilkinson St - Apartments FOR SALE


Milledgeville, GA 31061
$7,340,000 USD
407-312-4581
406 S Wilkinson St, Milledgeville, GA for Sale
$7,340,000 USD
Apartments - FOR SALE
1/32
null | 6.5% Cap Rate

406 S Wilkinson St
Milledgeville, GA 31061


HIGHLIGHTS

  • 37 Units | 82 Beds Purpose-Built Student Housing Portfolio – Quality student housing community totaling approximately 50,640 rentable sq
  • Walk-to-Campus Location – Located within two blocks of Georgia College & State University and three blocks from Downtown Milledgeville, providing resi
  • 100% Occupied Asset – The property is currently fully occupied, demonstrating strong and consistent demand
  • Strong Leasing Momentum – Already 71%+ pre-leased for the upcoming academic year, providing significant income visibility and operational stability.
  • Below-Market Rents Create Immediate Upside – Comparable properties in the market are achieving rents 20%–30% higher despite being located farther from

OVERVIEW

University Holdings is pleased to present Haven, a 37-unit, 82-bed purpose-built student housing portfolio located in the heart of Milledgeville, Georgia. Situated across three properties at 406 S. Wilkinson Street, 620 S. Jefferson Street, and 141 W. Baldwin Street, Haven offers investors the rare opportunity to acquire a fully occupied, walk-to-campus student housing asset serving Georgia College & State University and Georgia Military College. The portfolio consists of approximately 50,640 rentable square feet and features a mix of spacious two-bedroom and three-bedroom townhome-style floorplans. Residents benefit from modern construction, private bedroom layouts, ample parking, solid oak cabinetry, soundproofing between units, and an unmatched location within walking distance of campus and Downtown Milledgeville’s restaurants, entertainment, and retail destinations. Haven is currently 100% occupied and has already achieved more than 71% pre-leasing for the upcoming academic year, demonstrating exceptional demand and strong market positioning. Current rents average approximately $721 per bed, while ownership projects rents to increase to nearly $784 per bed next year. Comparable student housing communities located farther from campus are achieving substantially higher rental rates, creating a clear value-add opportunity through continued rental growth. With the property’s location, strong leasing performance, and favorable university enrollment trends, Haven offers an attractive opportunity to acquire a high-performing student housing investment with immediate and long-term NOI growth potential.

FOR SALE DETAILS

PRICE

$7,340,000 USD

PRICE/SF

$145 USD /SF

# OF UNITS

37

PRICE/UNIT

$198,378

CAP RATE

6.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Haven - Value Add Student Housing Adjacen

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2006

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

RESIDENTIAL

APN/PARCEL ID

M61-013,M61-015,M61-084

ASK ABOUT THIS PROPERTY

Skip BoneUniversity HoldingsMore Info
407-312-4581

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Skip BoneUniversity HoldingsMore Info
407-312-4581

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.